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Visa Commercial Solutions

Read the latest insights on the next generation of SMB owners.

72% of SMB owners prefer traditional institutions

Be the banking partner Next Gen SMB owners need

The next generation of SMB owners is here, steered by young Millennials and Gen Z which is predicted to make up 30% of the global workforce by 2030². With SMBs representing 70% of the global GDP,³ financial institutions (FIs) have a tremendous opportunity to tap into this growing segment.

Research findings suggest that younger SMB owners are more open to trying new things¹
They have low confidence in business insights and analytics, which can impede their ability to make data-driven decisions¹
They value in-person experiences over digital-only experiences, and traditional banks over fintechs¹
Social media is their primary source of banking information, surpassing web searches and any other medium¹

Read the white paper

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¹Material+ "Next Gen Small Business Owners" Survey, July - August 2024. Commissioned by Visa. Online survey of 1,418 SMB Owner and/or Financial Decision Maker (DMs) across 6 countries globally.
²World Economic Forum. Tomorrow’s workforce changed yesterday – now what for businesses that want to be future-ready? Jan 17, 2025.
³World Economic Forum. The big opportunity behind small businesses. Dec 8 2022